European stocks pull back from records, Reckitt Benckiser falls nearly 9%

2021-07-27 12:05:53 GMT (Economies.com)
European stocks pull back from records, Reckitt Benckiser falls nearly 9%

European stocks fell on Tuesday, deepening losses for the second straight day, pulling back further from their all-time highs, due to profit-taking and investors' risk aversion, amid the flow of Q2 earning reports, while shares of Reckitt Benckiser  lost 9% after reporting worse-than-expected sales.

 

The Stoxx Europe 600 index fell 0.7% as of 10:37 GMT, after it closed lower by 0.1% on profit-taking from its all-time high at 461.75 points.

 

The automotive sector saw the largest loss in Europe today, with a drop of 1.2%, deepening losses for the second straight day led by German manufacturers.

 

The British Reckitt Benckiser's stock fell nearly 9%, after the company reported lower-than-expected sales during the second quarter due to a slowdown in demand for major products.

 

S&P 500 futures fell 0.4% today ahead of Wall Street's opening, after the index ended higher by 0.25% yesterday and posted a new record at 4,422.73 points.

 

The US Federal Reserve's monthly meeting will start later today, amid broad anticipation of more cues over the future of the US monetary policy tightening.

 

Back to Europe, the Euro Stoxx 50 index fell 0.6%, France's CAC 40 fell 0.3%, Germany's DAX index fell 0.7%, and the UK's FTSE 100 fell more than 0.6%.

 
 
 
  Symbol Last Change Chg.%
1.1736
0.0022
0.1878%
1.3719
0.0043
0.3133%
Tadawul
11270.57
-40.58
0.36%
22.661
0.360
1.617%
73.338
2.405
3.390%
77.25
1.03
1.35%
1750.805
-6.000
0.342%
 
 
US
 
Europe
 
Asia